Velo3D, Inc. Quarterly report pursuant to Section 13 or 15(d)

Leases (Tables)

3 Months Ended

Mar. 31, 2022

Total right-of-use (“ROU”) assets and lease liabilities are as follows:


	March 31,		December 31,
	2022		2021
	(In thousands)
Right-of-use assets:
Net book value (Other assets)	$	10,400	$	11,073
Operating lease liabilities:
Current (Accrued expense and other current liabilities)	$	2,601	$	2,222
Noncurrent (Other noncurrent liabilities)	8,499		9,143
	11,100		11,365
Financing lease liabilities:
Current (Accrued expense and other current liabilities)	$	34	$	33
Noncurrent (Other noncurrent liabilities)	32		41
	$	66	$	74
Total lease liabilities	$	11,166	$	11,439

Information about lease-related balances were as follows:


	Three months ended March 31,
	2022		2021
	(In thousands)
Operating lease expense	$	717	$	143
Financing lease expense	9		3
Short-term lease expense	99		15
Total lease expense	$	825	$	161
Cash paid for leases	$	281	$	163
Weighted – average remaining lease term – operating leases (years)	4.6		1.63
Weighted – average discount rate – operating leases	4.4%		4.5%

Maturity of operating lease liabilities as of March 31, 2022 are as follows:


2026	2,315
Thereafter	598
Total operating lease payments	$	12,895
Less portion representing imputed interest	(1,729)
Total operating lease liabilities	$	11,166
Less current portion	2,635
Long-term portion	$	8,531